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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“I just completed a very productive call with President Xi of China. We made progress on many very important issues including Trade, Fentanyl, the need to bring the War between Russia and Ukraine to an end, and the approval of the TikTok Deal. I also agreed with President Xi that we would meet at the APEC Summit in South Korea, that I would go to China in the early part of next year, and that President Xi would, likewise, come to the United States at an appropriate time. The call was a very good one, we will be speaking again by phone, appreciate the TikTok approval, and both look forward to meeting at APEC!”
How Will Trump’s Statement Affect the Stock Market?
This latest post has the potential to affect the stock market. That’s because Donald Trump’s announcement of a productive call with President Xi could positively impact the stock market, particularly benefiting companies like Microsoft and Oracle Corporation involved in the TikTok deal, as well as the Technology Select Sector SPDR Fund and Vanguard Information Technology ETF. The mention of progress on trade issues may boost investor confidence in Walmart Inc. and consumer-related funds like the Consumer Discretionary Select Sector SPDR Fund. Additionally, the planned meetings and collaboration between the U.S. and China could lead to increased optimism for the iShares MSCI China ETF and iShares MSCI South Korea ETF.
Here are some of the stocks that might be affected:
Microsoft ((MSFT)),
Oracle Corporation ((ORCL)),
Walmart Inc. ((WMT)),
Technology Select Sector SPDR Fund ((XLK)),
iShares MSCI China ETF ((MCHI)),
Vanguard Information Technology ETF ((VGT)),
Consumer Discretionary Select Sector SPDR Fund ((XLY)),
iShares MSCI South Korea ETF ((EWY)).